XRP to hit $7.7 in March end - April early

in #crypto7 years ago

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Historical Analysis:

  1. Uptrending chart pattern with upper lows (Long position)
  2. Jan-Mar'17 &'18 showed similar trade market with low volumes
  3. Breakout in Mar'17 after 9 weekly bars (63d)
  4. Strong bullish candles post the low volumes in the past (Mar, Apr & Dec) with growth ranging from 12x-17x
  5. 65% historical average retracement post breakout

Justification for bull market ahead:

  1. With similar low volumes and sideways price pattern b/w Jan - Mar in FY17 & FY18, the expected bull breakout should be after 9 weekly bars
    2.Growth is expected to be 12x to reach upto $7.7
  2. 65% retracement to pull down the price to $2.7

Market Cap Analysis:
Current MCap: $26.58 Bn
Expected MCap (12x): ~315 Bn
Post retracement (65%) : ~111 Bn

Flip Side ( Bearish ):
Next Support level to be at $0.23 which should bring down the Market cap to $8.7 Bn

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For future viewers: price of bitcoin at the moment of posting is 8295.90USD

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